News Release

Treasurer Torsella Announces Request to Draw $1.2 Billion From Line of Credit

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced that Treasury has received a request from the Governor’s Office of the Budget to draw $1.2 billion from the $1.8 billion line of credit authorized on October 27th. This is the third request Treasury has received to draw down funds since the authorization. Treasury is charging a variable rate on all funds drawn, equal to the SiFMA Municipal Swap Index, which is currently 0.92 percent.

The most recent line of credit comes from Treasury’s Short Term Investment Pool (STIP) and must be paid back on or before April 2, 2018.